2.
Friday, July 13, 1973
"The intention rather is to ensure that, if and when an exchange
is established, it will operate in a well regulated and orderly manner, and in
accordance with internationally accepted practices and standards, il he said.
The bill empowers senior police officers to enter and search
any premises in which an illegal commodity exchange is suspected to be
in operation and to seize records and documents.
Under the bill, the district court will be empowered to make an
interim closure order in respect of such premises, pending the completion
of proceedings against the operator of the exchange.
A court may also make a closure order in respect of such premises
following the conviction of the operator.
The bill is published in today's gazette for general information
and will be introduced in the Legislative Council next week.
t
13